This phrase is quite strong. It might refer to an event where a woman was so completely overpowered or put in her place that it left a huge mark on her life story. It could be in various contexts, like in a business negotiation where she was completely outmaneuvered, or in a personal relationship where she was faced with a situation that was extremely challenging and made her feel completely defeated, and this event became a significant part of the story she would tell about herself.
Well, 'gave her the ass kicking of her life story' is a rather vivid expression. It might imply that a person was so thoroughly outdone by another that it became a significant part of her life's narrative. For example, if it was in a sports match, the opponent could have been so dominant that it was like the worst defeat she ever had, and it would be something that she'd always remember when she tells her story about her sports experiences.
It could mean that someone really severely defeated or punished her in a way that would be a major and memorable event in her life story. Maybe in a competition, an argument, or some kind of conflict.